India Dealbook: Lendingkart, Parentof, AI startup Orbo raise funding

Photo: Reuters

Indian startups continue to attract investor attention. Lendingkart, Parentof, and AI startup Orbo are among the latest startups to have raised funding.

Lendingkart raises $3m from Sistema

Digital lender Lendingkart Technologies Private Limited has raised additional Rs 21 crore ($3 million) from existing investor Sistema Asia Fund (SAF) as a part of its ongoing Series D financing, it said in a statement.

Last week, the startup announced raising a fresh equity round of $30 million led by existing investors, including Fullerton Financial Holdings Pte Ltd, Bertelsmann India Investments and venture capital firm India Quotient.

With this funding round, the total equity raised by Lendingkart stands at $146 million.

Since its inception, Lendingkart Finance (the NBFC arm of Lendingkart Group) claims to have evaluated nearly half a million applications, disbursing 60,000+ loans to more than 55,000 MSMEs in 1300+ cities across all 29 states and union territories.

Parentof raises $1m from angel investors

Bengaluru-based parent-tech startup Parentof has raised $1 million in seed funding led by angel investors V Srinivas and other existing investors.

This brings total funding raised by the startup till date stands at $2 million.

The startup plans to use the funding proceeds to evolving its technology and expand partner network.

Vinod Dham invests in Orbo

Vinod Dham, developer of Intel’s Pentium micro-processor and technology mentor, has in his personal capacity participated in a $1.6 million funding round of artificial intelligence (AI) startup Orbo, The Economic Times reported.

The funding is part of the startup’s pre-Series A funding round, which was led by YourNest Venture Capital and Venture Catalysts. Angel investor John Ason and existing investor Refex Capital also participated.

Founded by Manoj Shinde in 2015, Orbo makes software that enhances pictures and videos on mobile phones, laptops and display devices.